Turkish currency plummet to new low

- The malaise of the Turkish currency continues unabated. The value of the lira dropped 12% Friday morning to a new low record against the US dollar.

The Turkish currency is already under considerable pressure this week. The impact of the economic sanctions imposed by the United States earlier this month allowed the currency to fall to more than a third this year.

The European Central Bank (ECB) is, according to several media, worried about how European banks are affected, which have outstanding investments in Turkish lira.